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SEC Chair Says AI Could Cause the Next Big Financial Crisis

Tech hype comes in waves, and while the focus constantly changes (first crypto, then metaverse, and now AI), some things—like tech’s critics—remain the same. SEC Chair Gary Gensler has been the crypto community’s public enemy no. 1 for a few years now, but now he’s offering his somewhat caustic assessment on Silicon Valley’s latest heartthrob: artificial intelligence.Can AI Help with Mental Health?During a talk at the National Press Club conference on Monday, Gensler told the crowd that “AI may heighten financial

Gotham’s Ben McKenzie on Crypto, Fraud, And Celsius’ Alex Mashinsky – Rolling Stone

In the summer of 2021, I stumbled onto the world cryptocurrency by accident. A friend of mine encouraged me to buy some Bitcoin at the height of the mania, and to be honest, I was tempted. According to media reports, a lot of knuckleheads seemed to be getting rich off these cryptos, whatever the hell they were. I had never paid them much mind before, but I have a degree in economics and these things sure didn’t act like currencies as I understood them. That piqued my interest. It was also Covid and I was bored. Showbiz…

Celsius Founder Alex Mashinsky’s Arrest Won’t Fix Crypto | WIRED

However, the collapse of the Terra Luna stablecoin in May 2022 blew a billion-dollar hole in the Celsius balance sheet that, combined with a slump in the crypto market, left Celsius unable to meet a surge in customer withdrawals. On June 12, the company announced it would halt withdrawals, citing “extreme market conditions.” A month later, the company filed for Chapter 11 bankruptcy, trapping $4.7 billion of its customers’ money.A similar pattern played out at other crypto lenders: BlockFi, Voyager Digital, and Genesis…

Alex Mashinsky, Celsius Co-Founder, Arrested

The co-founder and former CEO of the defunct cryptocurrency exchange Celsius was arrested on fraud charges Thursday, Bloomberg reported.Crypto Exchanges Restrict WithdrawalsAlex Mashinsky, 57, was also charged with attempting to manipulate cryptocurrency markets, per Bloomberg. The Department of Justice accused Mashinsky and Roni Cohen-Pavon, Celsius’ chief revenue officer, of ​​a,years long scheme to mislead customers,” according to Coindesk. The Securities and Exchange Commission (SEC) sued the company and Mashinsky

States From California to Florida Face Another Unsafely Hot Day

Communities from the golden state to the sunshine state are going to feel the burn today, as a heat wave is currently sweeping throughout the lower half of the United States.How to Know If the Heat Is Making You Sick“In addition to the oppressive heat during the day, overnight lows will remain abnormally warm, bringing little relief from the heat overnight,” the National Weather Service (NWS) warned in today’s alert. “Numerous near record-tying/breaking warm lows are expected.”Over in the Southwest, communities are seeing…

Celsius founder Alex Mashinsky arrested and charged with fraud

The problems keep mounting for Celsius founder Alex Mashinsky, as he’s been arrested and charged by federal authorities with fraud. Mashinsky faces seven criminal counts, including securities, commodities and wire fraud, He and his company are being independent sued by three government agencies — the FTC, CFTC and SEC. The U.S. Attorney’s Office alleges that Mashinsky misled customers regarding the nature of his company, making it seem like a bank when it was actually a high-risk investment fund. Celsius’s former chief…

California Is in for a Long, Scalding Hot Week

A Los Angeles City Fire Department helicopter gets ready to drop water on a brush fire that broke out in the Elysian Park area on July 7, 2023, in Los Angeles.Photo: Mark J. Terrill (AP)It’s supposed to be pretty hot in California during the summer, but the golden state is going to see higher than average temperatures this weekand into this coming weekend.Teyonah Parris and John Boyega on Working With Jamie Foxx | io9 InterviewAreas like Palm Springs could see highs of around 112 degrees Fahrenheit (44.4 Celsius) today,

Janitor Accidentally Destroyed 20 Years of Scientific Research While Trying to Stop ‘Annoying Alarms’

A janitor accidentally destroyed more than two decades of research when he turned off a freezer containing invaluable cell cultures that “had the potential to be groundbreaking,” according to a new lawsuit filed by Rensselaer Polytechnic Institute (RPI) in New York. Is Google's New $1,800 Pixel Phone Worth It? | Gizmodo ReviewThe lawsuit claims Joseph Herrington, who was employed by Daigle Cleaning Systems Inc., switched off the freezer, which was set at -80 degrees Celsius (-112 degrees Fahrenheit), citing the beeping…

Texas Electric Grid Is Straining Against Heat Wave

Transmission towers are seen near the CenterPoint Energy power plant on July 11, 2022 in Houston, Texas. Photo: Brandon Bell (Getty Images)It is hot as hell in Texas at the moment, and the sky-high temperatures are straining the state’s grid. Excessive heat warnings and heat advisories are in effect for most of the state today, according to the National Weather Service.Lower Drought Conditions In California | Extreme Earth“The record breaking heat in Texas caused by a stationary upper-level ridge will continue for the

Is now the right time to invest in PancakeSwap, Celsius, and DPAT?

Cryptocurrency continues to be a hot topic in the financial world, with investors and traders eagerly monitoring developments in the market. The last few weeks has seen a lot of buzz surrounding PancakeSwap’s CAKE token, Celsius’ GK8, and the rising popularity of Direct Property Africa’s Token DPAT. <BUY DPAT NOW> PancakeSwap valued over $100 million  PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). It allows users to trade cryptocurrencies, participate in yield farming, and…